89bio To Be Bought By Roche For Around $3.5 Bln

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(RTTNews) - 89bio, Inc. (ETNB), which develops therapies for liver and ardiometabolic diseases said that it has inked a deal to be acquired by Roche Holding AG (RHHBY) for $14.50 per share in cash, or for $2.4 billion.

In addition, 89bio's shareholders will receive a non-tradeable contingent value right to receive up to a total of $6 per share in cash, which will bring the total equity value of the transaction to up to around $3.5 billion, or $20.50 per share.

This acquisition price of $14.50 per share is a 79% premium to 89bio's closing price on September 17, and a premium of 52% to 89bio's 60-day volume-weighted average price.

Under the terms, an affiliate of Roche will begin a tender offer to acquire all of 89bio's shares. Upon the completion of the offer, Roche will acquire all remaining 89bio shares that are not tendered into the tender offer through a second-step merger.

The transaction is expected to be closed in the fourth quarter of 2025.

Rohan Palekar, CEO of 89bio, said: "We are thrilled to be joining with Roche to combine the promise of pegozafermin with Roche's established global development, manufacturing, and commercialization capabilities, to accelerate and maximize potential benefit for patients in need and unlock significant shareholder value."

Post transaction, 89bio will join Roche's pharmaceuticals division.